Eqwal NHC: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Eqwal NHC
Largest movements
- Cash +€175,687
up €175,687 (+62.5%), from €281,304 to €456,991
- Receivables within one year +€91,684
up €91,684 (+13.7%), from €671,151 to €762,835
of which Trade receivables: +€218,839
- Tangible fixed assets -€89,308
down €89,308 (-18.7%), from €476,311 to €387,004
of which Furniture and vehicles: -€63,698
- Profit (loss) carried forward +€478,740
up €478,740 (+176%), from €272,495 to €751,235
- Trade debts -€187,589
down €187,589 (-40.0%), from €468,955 to €281,366
- Other debts +€161,261
up €161,261, from €0 to €161,261
- Short-term financial debts -€100,000
no longer reported in 2025 (was €100,000)
- Current portion of long-term debt -€75,167
down €75,167 (-57.2%), from €131,420 to €56,253
- Gross operating margin +€545,556
up €545,556 (+77.4%), from €704,946 to €1.3m
- Taxes +€114,787
up €114,787 (+217%), from €52,901 to €167,687
- Staff costs +€98,533
up €98,533 (+25.2%), from €391,441 to €489,974
- Financial charges -€20,235
down €20,235 (-49.9%), from €40,527 to €20,292
- Depreciation +€15,070
up €15,070 (+20.1%), from €74,947 to €90,017
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,576,663 | €1,747,662 | +€170,998 | +10.8% |
| Fixed assets | 21/28 | €481,419 | €391,812 | -€89,608 | -18.6% |
| Tangible fixed assets | 22/27 | €476,311 | €387,004 | -€89,308 | -18.7% |
| Land and buildings | 22 | €348,758 | €324,046 | -€24,712 | -7.1% |
| Plant, machinery and equipment | 23 | €1,220 | €322 | -€898 | -73.6% |
| Furniture and vehicles | 24 | €126,334 | €62,637 | -€63,698 | -50.4% |
| Financial fixed assets | 28 | €5,108 | €4,808 | -€300 | -5.9% |
| Current assets | 29/58 | €1,095,244 | €1,355,850 | +€260,606 | +23.8% |
| Stocks and contracts in progress | 3 | €135,326 | €126,097 | -€9,229 | -6.8% |
| Stocks | 30/36 | €135,326 | €126,097 | -€9,229 | -6.8% |
| Amounts receivable within one year | 40/41 | €671,151 | €762,835 | +€91,684 | +13.7% |
| Trade receivables | 40 | €542,693 | €761,532 | +€218,839 | +40.3% |
| Other amounts receivable | 41 | €128,458 | €1,303 | -€127,155 | -99.0% |
| Cash at bank and in hand | 54/58 | €281,304 | €456,991 | +€175,687 | +62.5% |
| Deferred charges and accrued income | 490/1 | €7,463 | €9,927 | +€2,464 | +33.0% |
| Total equity and liabilities | 10/49 | €1,576,663 | €1,747,662 | +€170,998 | +10.8% |
| Equity | 10/15 | €428,555 | €907,295 | +€478,740 | +112% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €148,000 | €148,000 | = | 0.0% |
| Distributable reserves | 133 | €148,000 | €148,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €272,495 | €751,235 | +€478,740 | +176% |
| Amounts payable | 17/49 | €1,148,108 | €840,366 | -€307,742 | -26.8% |
| Amounts payable after more than one year | 17 | €319,070 | €247,100 | -€71,969 | -22.6% |
| Financial debts | 170/4 | €319,070 | €247,100 | -€71,969 | -22.6% |
| Amounts payable within one year | 42/48 | €825,039 | €585,266 | -€239,773 | -29.1% |
| Current portion of amounts payable after more than one year | 42 | €131,420 | €56,253 | -€75,167 | -57.2% |
| Financial debts | 43 | €100,000 | - | -€100,000 | |
| Credit institutions | 430/8 | €100,000 | - | -€100,000 | |
| Trade debts | 44 | €468,955 | €281,366 | -€187,589 | -40.0% |
| Suppliers | 440/4 | €468,955 | €281,366 | -€187,589 | -40.0% |
| Taxes, remuneration and social security | 45 | €124,664 | €86,385 | -€38,278 | -30.7% |
| Taxes | 450/3 | €53,373 | €36,054 | -€17,319 | -32.4% |
| Remuneration and social security | 454/9 | €71,290 | €50,331 | -€20,959 | -29.4% |
| Other amounts payable | 47/48 | €0 | €161,261 | +€161,261 | |
| Accrued charges and deferred income | 492/3 | €4,000 | €8,000 | +€4,000 | +100% |
| Remuneration, social security and pensions | 62 | €391,441 | €489,974 | +€98,533 | +25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,947 | €90,017 | +€15,070 | +20.1% |
| Other operating charges | 640/8 | €3,693 | €3,819 | +€126 | +3.4% |
| Non-recurring operating charges | 66A | €1,863 | €0 | -€1,863 | -100% |
| Gross operating margin | 9900 | €704,946 | €1,250,502 | +€545,556 | +77.4% |
| Operating profit (loss) | 9901 | €233,001 | €666,691 | +€433,690 | +186% |
| Financial income | 75/76B | €3 | €28 | +€25 | +750% |
| Recurring financial income | 75 | €3 | €28 | +€25 | +750% |
| Financial charges | 65/66B | €40,527 | €20,292 | -€20,235 | -49.9% |
| Recurring financial charges | 65 | €40,527 | €20,292 | -€20,235 | -49.9% |
| Profit (loss) for the period before taxes | 9903 | €192,477 | €646,428 | +€453,950 | +236% |
| Income taxes | 67/77 | €52,901 | €167,687 | +€114,787 | +217% |
| Profit (loss) for the period | 9904 | €139,577 | €478,740 | +€339,163 | +243% |
| Profit (loss) for the period to be appropriated | 9905 | €139,577 | €478,740 | +€339,163 | +243% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.